Floating Production Storage and Offloading Market Overview and Industry Report 2022-2027

According to the recent report by IMARC Group, titled “Floating Production Storage and Offloading Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global floating production storage and offloading market size reached US$ 19.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.7 Billion by 2027, exhibiting a growth rate (CAGR) of 6.4% during 2022-2027. Floating production storage and offloading (FPSO) vessels are employed in the offshore oil and gas fields to process hydrocarbons acquired from subsea oil reservoirs. They are equipped with hydrocarbon processing equipment that separates and treats hydrocarbons into oil, gas, and water. FPSO stores processed natural gas or crude oil until it is offloaded into shuttle tankers or carried through export pipelines to refineries. These vessels include generators, pumps, control rooms, storage tanks, and accommodation facilities. This mechanism helps extract and process oil and gas in remote locations at a low cost with better flexibility, safety, versatility, and high storage capacity.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Global Floating Production Storage and Offloading Market Trends:

The global FPSO market growth can be majorly attributed to a rise in offshore exploration activities. Along with this, the increasing requirement for integrated compact systems in offshore reservoirs to withstand extreme conditions is catalyzing the market growth. An enhanced focus on deep-water oil extraction and the steadily rising demand for energy are acting as other major growth-inducing factors. Additionally, FPSO units do not require expensive subsea oil pipelines to export oil, which is creating a positive outlook for the market. Some of the other growth-inducing factors include various technological advancements and the digitization of FPSO vessels.

Key Market Segmentation:

Competitive Landscape with Key Players:

  • Bumi Armada Berhad (Usaha Tegas Sdn Bhd)
  • Bluewater Energy Services B.V. (Aurelia Energy N.V.)
  • BP Plc
  • BW Offshore Limited
  • Chevron Corporation
  • Exxon Mobil Corporation
  • MODEC Inc.
  • Petróleo Brasileiro S.A.
  • SBM Offshore N.V.
  • Royal Dutch Shell PLC
  • Teekay Corporation

Breakup by Vessel Type:

  • Converted and Redeployed
  • New-Build Vessels

Breakup by Design:

  • Spread Mooring Vessels
  • Single Point Mooring Vessels
  • Dynamic Positioning FPSO Vessels

Breakup by Propulsion Type:

  • Self-Propelled
  • Towed

Breakup by Hull Type:

  • Single Hull
  • Double Hull

Breakup by Application:

  • Shallow Water
  • Deepwater
  • Ultra-deep Water

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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